Rhode Island Health & Educational Building Corp. Providence College; Private Coll/Univ - General Obligation Oct 12
- Language: English
- Published: October 2012
- Region: Rhode Island
Standard & Poor's Ratings Services assigned its 'A' standard long-term rating to Rhode Island Health and Educational Building Corp.'s series 2007 higher education facility revenue bonds, issued for Bryant University. In addition, Standard & Poor's affirmed its 'A' underlying rating (SPUR) on bonds issued for the university. The 'A' rating reflects: Strong financial results, which allowed Bryant to produce consistently large annual operating surpluses; Positive enrollment trends that are characterized by the steady increase in headcount and a large increase in applications; Adequate liquidity levels for the rating category, with unrestricted resources equal to 152% of operating expenses and 181% of pro forma debt; and A manageable pro forma debt burden at roughly 5.6%. Offsetting factors include the university's competitive...
Companies mentioned in this report are: Bryant Univ,Rhode Island Hlth & Educl Bldg Corp
Action: New Rating
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Research Type: Full Analysis
Bryant Univ,Rhode Island Hlth & Educl Bldg Corp